Nel ASA

NEL is increasing its share in Hyme AS, a provider of design and technical solutions for hydrogen refuelling stations

Through a 100% owned subsidiary, NEL ASA ("NEL") has increased its ownership in

Hyme AS, a company providing design and technical solutions for hydrogen

refuelling stations, from 31% to 56.8%. NEL thus has majority in Hyme AS and the

increase in ownership is part of NEL's strategy to grow within the hydrogen

refuelling market. The increase has been done by way of a share issue in Hyme

AS.

Hyme AS was established in mid 2014 by NEL Hydrogen together with two other

Norwegian partners and one Swedish partner. The partnership in Hyme AS brings

together extensive expertise in the design and delivery of hydrogen refuelling

stations with the aim to take part in an emerging market worldwide.

NEL Hydrogen delivered the world's first publically available hydrogen

refuelling station in Iceland in 2003. NEL Hydrogen offers solutions for both

trucked-in hydrogen supply and on-site electrolytic production. NEL aims to

deliver a complete solution, from production of hydrogen to refuelling of

vehicles through the engagement and ownership in Hyme AS, a company builds on

decades of experience with designing and operating hydrogen refuelling stations.

This initiative is timed with the current global launch of hydrogen fuel cell

electric vehicles. Through NEL's already existing international presence, NEL

and Hyme are well positioned to offer this concept globally as the market for

hydrogen refuelling stations is growing.

About NEL

NEL ASA is a leading global supplier of hydrogen technology for industrial /

energy purposes, and has made over 500 deliveries in more than 50 countries. The

company's main products are hydrogen production plants based on water

electrolysis, complete hydrogen stations for transport and renewable energy

storage solutions. The company has its roots from the hydrogen activities of

Norsk Hydro, which dates back to 1927. The company also has a number of patents

related to tests for early detection and diagnosis of diseases.

For further information, please contact:

Lars Christian Stugaard

Acting CEO

+47 23 01 49 06 / +47 47 63 05 22

Forward-looking statements:

This release and any materials distributed in connection with this release may

contain certain forward-looking statements. By their nature, forward-looking

statements involve risk and uncertainty because they reflect the Company's

current expectations and assumptions as to future events and circumstances that

may not prove accurate. A number of material factors could cause actual results

and developments to differ materially from those expressed or implied by these

forward-looking statements.

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